Cargill: enters Turkish oils + fats market

Minneapolis / MN. (cg) Cargill Inc. has signed an agreement to acquire Turyag, a Turkish fats and oils company employing more than 200 people. The acquisition will allow Cargill to grow its food ingredient activities in Türkiye and to expand its portfolio with oils and fats to better serve its customers in Türkiye and beyond. The acquisition will include integrated crush and refinery assets, sales and manufacturing organizations, related B2B brands, intellectual property and know-how, and more than 200 people currently employed by Turyag. Excluded from the transaction are the retail business and consumer brands. Murat Tarak?§ioglu, president of Cargill in Türkiye said: «The acquisition of Turyag will help Cargill create value for our customers in Türkiye. It will diversify our product offering and portfolio, enabling us to build stronger partnerships with global, regional and local customers». Today, Cargill is a major player in Türkiye with a strong position in the food space and particularly in starches and sweeteners. Tarak?§ioglu commented: «The acquisition provides our customers with additional opportunities in the oils and fats space and enhances our long term view for developing our business in the Middle East, Türkiye and North Africa». The transaction is still subject to regulatory approvals and is expected to close in the coming weeks.